Gas Bridge between Caspian Region / Middle East/Egypt and Europe

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1 Nabucco - Gas Bridge to Europe Nabucco Gas Pipeline International GmbH, Status Report, First Quarter 2009 Gas Bridge between Caspian Region / Middle East/Egypt and Europe 1 Copyright 2009 by OMV Gas & Power GmbH, all rights reserved

2 Supply / Demand Outlook EU Mtoe Additional Supplies to be defined Contracted Imports and possible prolongations from outside Europe Potential Norwegian exports Indigenous Production (EU27) Source: Eurogas Copyright 2009 by OMV Gas & Power GmbH, all rights reserved

3 Gas imports to European Union Gas imports to Europe are increasing Volumes in bcm/year Years Total E U-25 production Total E U-25 consumption Source: European Commission, Competition DG, Energy Sector Inquiry/Draft Preliminary Report Source: BP Statistical Review 2005 Source: Study A.T. Kearney, Russland am Gashahn, January Copyright 2009 by OMV Gas & Power GmbH, all rights reserved

4 Link between giant gas sources and potential markets 3,490 44,650 1,250 82,860 Caspian Region Middle East and Egypt 4,520 Source: BP Statistical Review 6/2008 (in bcm) 4 Copyright 2009 by OMV Gas & Power GmbH, all rights reserved

5 Nabucco European Project Nabucco Gas Pipeline will constitute the 4th Corridor to supply European markets with natural gas from alternative sources Energy Policy for Europe supports the market market faces an increase of energy demand and an increase of import dependency market calls for diversification of energy sources and transport routes market calls for improving energy efficiency and promoting renewable energy sources natural gas will be the bridge fuel into a sustainable future 5 Copyright 2009 by OMV Gas & Power GmbH, all rights reserved

6 Construction Construction Step I Construction Step I Phase 1 Phase 2 O p e r O a t p i e o r na t i o n Constr. Step II II 6 Copyright 2009 by OMV Gas & Power GmbH, all rights reserved

7 Gas Supply Sources Baumgarten Russia Caspian Region: Azerbaijan Turkmenistan Kazakhstan Egypt Iraq Iran 7 Copyright 2009 by OMV Gas & Power GmbH, all rights reserved

8 Development Phase Market Survey: Nabucco more than 100% overbooked 54 shippers have been contacted by NIC 16 shippers gave a concrete answer on a non-binding basis about their interest in capacities CONCLUSIONS: Capacity is much over the planned design capacity of 31 bcm/y (for the HIGH CASE). Demand pattern is focusing on start-up period of Nabucco (essential for financing). Result - M arket Survey Result - M arket Survey requested capacity in total com pared to planned m axim um technical transportation capacity in bcm/y potential shippers m axim um technical capacity (31 bcm /y scenario) 8 Copyright 2009 by OMV Gas & Power GmbH, all rights reserved

9 Existing/Possible Supply Routes to Nabucco Gas Pipeline Ukraine Russia Kazakhstan Austria Nabucco Blue Stream-I Trans-Caspian Kazakh Gas Caspian Gas Greece Turkey Nabucco Trans-Caspian Turkmen Gas Arab Gas P/L Phase-III TerGas Iraqi Gas (ITGEP) Iranian Gas Egypt Egyptian Gas Arab Gas P/L 9 Copyright 2009 by OMV Gas & Power GmbH, all rights reserved Map: Google Map

10 Results reached so far Execution of Market Sounding, Capacities highly requested Terms and Conditions for Open Season established Application and ongoing approval process for Exemption National Nabucco Companies founded in Austria, Hungary, Romania and Bulgaria Approval for EU-TEN-funding of FEED Engineering works Owner s Engineer engaged, December 2007 RWE joining the Nabucco Project as a 6th Shareholder, February Copyright 2009 by OMV Gas & Power GmbH, all rights reserved

11 Nabucco Gas Pipeline Development Phase Major objects of consideration Establishment of Legal Framework (IGA/HGA) Execution of Market Survey / Open Season Conclusion of Transportation Contracts Organisational development Final Investment Decision Contracting/Execution of Front End Engineering Design Financial Close 11 Copyright 2009 by OMV Gas & Power GmbH, all rights reserved

12 Nabucco strengthens competition in Europe Multi sourcing approach Strengthening competition 50% of the capacity will be auctioned among the shareholders, 50% of the capacity with full Third Party access Enhancing liquidity of the market 10% of the capacity will be assigned to short term contracts; Effective congestion management incl. Use-it-or-lose-it principle will be applied Meeting demands of the market Expansion of the system if long term capacity request exceeds the maximal technical capacity One-stop-shop principle Equal terms&conditions for 100% of capacity Physical flows and gas swaps between traders together with flexibility services will provide a variety of business opportunities. 12 Copyright 2009 by OMV Gas & Power GmbH, all rights reserved

13 Contact Nabucco Gas Pipeline International GmbH Floridotower Floridsdorfer Haupstraße Vienna, Austria Reinhard Mitschek Managing Director Tel Fax: reinhard.mitschek@nabucco-pipeline.com 13 Copyright 2009 by OMV Gas & Power GmbH, all rights reserved